Cybersecurity fears loom in latest IT Trends Report from NOVIPRO Group and Leger

61% of Canadian companies were prompted to review their data security practices by news reports about data breaches

MONTREAL, April 24, 2024 /CNW/ - Today, NOVIPRO Group and Léger have unveiled the 8^th edition of their annual IT Trends Report. Each year, NOVIPRO Group and Léger survey decision-makers across Canada to identify the challenges and trends that are shaping IT investments for small, medium, and large companies across sectors.

Key takeaways from this year's data include:

• Threats loom large: Companies are more aware of cyber threats than ever, with 61% prompted to review their data security practices by news reports about data breaches. Security was also identified in the top three challenges facing businesses this year, and was a top priority for companies when assessing applications for modernization.
  
  
• Cybersecurity action lags behind concern: Despite these fears, investments in the training, resources, and insurance necessary to protect against cyber threats are lacking. 28% of companies had not offered training in the last year, 13% have not implemented any measures to protect against data breaches, and 71% do not have cyber insurance. Fortunately, companies are planning future investments; 29% of respondents are planning to invest in security solutions in the next two years, an increase of 15% since last year.
  
  
• Investment growth returns: 80% of Canadian businesses intend to make significant technology investments in the next two years, an increase of 4% since last year. This is the first year that this number has increased since the pandemic in 2020.
  
  
• Companies invest in IT training: The #1 human resources concern for IT departments this year was lack of training and skills development. Fortunately, over two thirds of respondents are planning to invest in this area.
  
  
• AI on the rise: Most respondents recognize that AI will or has already impacted their business, and 40% plan to invest in AI and/or Advanced Data Analytics in the coming year. However, a surprising 20% of respondents either do not believe that, or do not know if, AI will transform their business.
  
  
• Feeling the pinch: This year, we continue to see the impacts of the pandemic and inflationary pressures on IT investments. Budget emerged as the most common challenge facing businesses in the year ahead, closely followed by security. Budgetary pressures are resulting in under-investment in both critical and innovative tech that could bring sorely-needed efficiencies, cybersecurity protection, and competitive advantages.
  
  
• "Functional," not forward-thinking: 67% of respondents described their IT infrastructure as "functional." Most Canadian companies are not making the investments necessary to bring their technological solutions to the next level and leverage IT strategically.
  
  
• Low confidence in IT teams: Strategic IT decisions are likely being held back by both budget and negative perceptions; 31% of respondents view their IT department in a negative light. Of this 31%, 16% view IT as a "necessary evil." Additionally, the percentage of companies that view their IT teams as an investment has been in decline since 2020.

Canadian companies are working hard to manage difficult economic circumstances and keep up with rapid technological changes. Yet greater investment in carefully-selected technology is necessary to ensure that Canadian companies stay ahead of the curve and remain competitive in our globalized world.

The insights detailed in the 2024 IT Trends Report are supported by data from Leger's robust online survey, as well as conversations with tech leaders such as IBM and Nutanix, and IT decision-makers from a variety of sectors.

Explore the full IT Trends Report at it-trends.ca

The data for the eighth edition of the NOVIPRO/Léger IT Trends Report comes from an online survey conducted from January 8^th to 20^th, 2024, with 297 IT decision-makers, 80 directors who do not work in IT, and 76 decision-makers who are neither directors nor in IT. The study surveyed Canadian companies on their tech priorities and challenges. Over the years, the study has highlighted trends in a range of IT topics, including artificial intelligence, cybersecurity, cloud computing and IT investment.

Each year, our content team works to create tangible tools to support IT decision-makers. This year's report has been in enhanced not only by robust data, but on-the-ground insights from IT professionals who share a collective commitment to leverage IT to support Canadian businesses.

We have also added new visual data summaries to make the information easier for busy professionals to digest, as well as highlighted risks, opportunities, and key questions that decision-makers should be asking themselves.

The IT Trends report remains the most comprehensive Canadian study to inform strategic decisions in information technology.

NOVIPRO GROUP is a consolidator of information technology solution providers, committed to leveraging its portfolio of enterprise-related IT services and solutions to a broad range of industries. With offices in Montréal, Québec City, Toronto and Calgary and plans for expansion throughout the rest of Canada, the U.S., and Europe, NOVIPRO GROUP is emerging as a North American leader in IT infrastructure and cloud solutions.

SOURCE NOVIPRO Group